Octopus Real Estate completes three care home land transactions
Octopus Real Estate, part of the Octopus Group and leading investor in healthcare facilities, has completed two sales and one acquisition.
The deals include the sale of a project to convert Grade II listed stately home, Tudor Grange, in Solihull to a 64-bed care home with assisted living units. The site will be run by care home specialist, Macc Group. Octopus Real Estate was represented by Carterwood on the deal.
The second site sale, which has been acquired by Greensleeves Care Trust and LNT, is for a 66-bed care home in Ipswich.
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Octopus Real Estate has, furthermore, gained planning permission for a 60-bed care home in Winchester that will be run by local charity Brendoncare.
Richard Dooley, Director of Octopus Real Estate’s healthcare development team, said: “Delivering suitable infrastructure for the UK’s ageing population is central to the Octopus Real Estate healthcare team’s ethos and we are rising to the challenge of providing enough fit-for-purpose real estate to meet this growing demand.
“These latest deals underscore our ability to find new sites and deliver much needed product by securing planning permission to optimise the value of land that’s ripe for development. Our expert team has successfully executed our business plan at the sites in Solihull and Ipswich and therefore made the decision to sell them on to two very capable operators.
“At Winchester, working with our partner, Brendoncare, we are looking forward to applying our expertise to create a modern, state-of-the-art facility.”